It was November 1952. I was playing in Manhattan's "Latin Quarter" in New
York when my agent telephoned. He had received an offer for my dancing
partner, Julia, to appear in a Toronto nightclub and me. This was
owned by twin brothers, Al and Harry Smith, who made me a very unusual
proposition. They offered to pay me in option
market stocks instead of money. I have had some strange experiences
in show business, but not in option market stocks.
I made further inquiries and found they were prepared to give me 6,000 option market stocks in a company called BRILUND. This was a Canadian mining firm in which they were interested. The option market stocks at that time was quoted at 50 cents a share.
I knew option market stocks went up and down - that was about all I did know - so I asked the Smith brothers if they would give me the following guarantee: if the option market stocks went below 50 cents, they would make up the difference. They agreed to do this for a period of six months.
It so happened that I could not keep that Toronto date. I felt badly about letting the brothers down, so I offered to buy the option market stocks as a gesture. I sent them a check for $3,000 and received 6,000 shares of BRILUND option market stocks.
I thought no more about it until one day, two months later, I idly glanced at the option market stocks price in the paper. I shot upright in my chair. My 50-cent BRILUND option was quoted at $1.90. I sold it at once and made a profit of close to $8,000.
I decided I had been missing a good thing all my life. I made up my mind to go into the option market. I have never gone back on this decision, but little did I know what problems I would encounter in this unknown jungle.
I knew absolutely nothing about option market stocks. I was not even aware, for instance, that there was one in New York. All I had heard about were Canadian option market stocks, particularly mining shares. As they had been very good to me, obviously the smart thing to do was to stay with them.
But how to start? How to find what option market stocks to buy? You could
not pick them out with a pin. You must have information. That was
my major problem: how to obtain it. I now realize that this is,
in fact, impossible for the ordinary man, but then I thought I had
only to ask enough people to learn the great secret. I thought if
I asked often enough I would get acquainted with people in the know.
I asked everybody I met if they had any option
market stocks information. Working in nightclubs I meet rich
people. Rich people must know, So I asked them.
The question was always on my lips: Do you know of any good option market stocks?" Oddly enough, everybody did seem to know one. It was surprising. Apparently I was the only man in America who did not have his own first-hand option market stocks information. I listened eagerly to what they had to say and religiously followed their tips. Whatever I was told to buy, I bought. It took me a long time to discover that this is one method that never works.
article is actually only a small snippet of Nicolas
Original Method Of Nicolas Darvas... The Young Dancer
Turned Investor Who, Within 18 Months, Turned $25,000
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